The First Groundbreaking at Dangjin Base... The Nationwide Natural Gas Era

Gas Gong, Completion of 5th Base... 10 LNG Storage Tanks of 200,000 kℓ Class

Aerial View of Korea Gas Corporation Chungnam Dangjin Natural Gas 5th Terminal

[Asia Economy Reporter Kwangho Lee] From the Pyeongtaek base in 1986, Incheon base in 1996, Tongyeong base in 2002, Samcheok base in 2014, Jeju base in 2019, to the Dangjin base in 2031... the era of nationwide natural gas is opening.

According to Korea Gas Corporation on the 4th, a 5th liquefied natural gas (LNG) base will be completed at the Seokmun National Industrial Complex site in Dangjin, Chungnam, with an investment of 3.3265 trillion KRW. A plaque ceremony was held on the 30th of last month.

Currently, South Korea has LNG bases established in four locations: Pyeongtaek, Incheon, Tongyeong, and Samcheok. The Jeju LNG base is a satellite base, so the Dangjin base under construction this time will be the fifth LNG production base.

Gas Corporation confirmed the Seokmun National Industrial Complex in Dangjin, Chungnam as the LNG base site in March 2018 and completed the preliminary feasibility study by the Ministry of Economy and Finance in August last year.

Through this project, on approximately 890,000㎡ (268,000 pyeong) of land, ten 200,000 kℓ-class LNG storage tanks, vaporization and transmission facilities, 270,000 kℓ-class LNG carrier berthing facilities, and bunkering-related facilities will be installed.

Separately from the LNG base construction, about 121 km of pipelines and 10 supply management stations for natural gas transmission will also be constructed.

As of last year, South Korea has 72 LNG tanks (11.47 million m³). When the Dangjin base is completed, the number will increase to 85 tanks (14.07 million m³) by 2031.

Also, the main pipelines, which were 4,857 km (404 supply management stations) as of last year, will be expanded to 5,363 km (452 supply management stations) by 2023.

As of last year, there are 115 vaporization facilities (15,240 tons/hour) capable of storing about 5.1 million tons of LNG (storage rate 14.1%).

Gas Corporation plans to build an environmentally friendly LNG base based on the experience and technological capabilities accumulated while operating Pyeongtaek, Incheon, Tongyeong, and Samcheok bases.

Additionally, it plans to establish fair and horizontal contractual relationships with partner companies and create a safe and exemplary construction site by protecting the human rights of construction workers.

Chae Hee-bong, President of Gas Corporation, said, "The 5th base will be a cornerstone supporting future-oriented government energy policies and realizing national energy welfare through safe and stable natural gas supply," adding, "It will also contribute to revitalizing the local economy through job creation for local residents and win-win cooperation between large and small-medium enterprises."

Meanwhile, South Korea's LNG import volume reached 44.04 million tons as of 2018, with Gas Corporation handling 95% of the imports.

South Korea is the world's third-largest LNG importer after Japan and China. With the government's nuclear and coal phase-out policies, LNG power generation is expanding, and LNG import volume is expected to continue increasing.

This content was produced with the assistance of AI translation services.